Annexon, Inc. (NASDAQ:ANNX) Given Average Recommendation of “Buy” by Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.14.

Several equities analysts have issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, April 24th.

Annexon Price Performance

ANNX stock opened at $4.70 on Friday. The company has a fifty day moving average price of $5.48 and a 200 day moving average price of $4.51. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40. The company has a market cap of $434.33 million, a price-to-earnings ratio of -3.20 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.11. As a group, analysts anticipate that Annexon will post -0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BVF Inc. IL purchased a new position in shares of Annexon during the 4th quarter worth about $31,780,000. Bain Capital Life Sciences Investors LLC lifted its holdings in shares of Annexon by 41.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after acquiring an additional 2,359,793 shares during the period. Bellevue Group AG purchased a new position in shares of Annexon during the 1st quarter worth about $15,647,000. Vanguard Group Inc. lifted its holdings in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after acquiring an additional 1,839,329 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after acquiring an additional 1,311,195 shares during the period.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.